TLDR:Chainlink whale 0x7fBB sells 403K LINK after holding over a year, earning $12M in realized gains.LINK slides 13% weekly but still trades above a trendline dating back to June 2023.The whale’s Binance deposit preceded a 3.4% daily drop, triggering short-term volatility.Traders eye a $31 target if LINK sustains a trendline bounce and market sentiment recovers.A major Chainlink whale has begun realizing profits, marking a shift in market behavior as LINK corrects from recent highs. The wallet, identified as 0x7fBB, moved large amounts of LINK to exchanges after holding for over a year. Meanwhile, LINK continues to trade above critical support levels, despite a dip in daily and weekly performance. Market analysts note both price resilience and increased selling activity, reflecting a balanced tug-of-war between bulls and profit-takers. These movements come amid mixed sentiment around LINK’s trajectory and Chainlink’s broader role in the crypto ecosystem.Chainlink Whale Sells 403K LINK After Year-Long HoldAccording to Lookonchain, wallet 0x7fBB withdrew 1.75 million LINK tokens from Kraken between March 2023 and March 2024. The tokens were acquired at an average price of $7.03, with the whale holding them for more than a year. Beginning May 27, the wallet sent 403,000 LINK to Binance, worth $5.87 million at the time of transfer.Whale 0x7fBB recently started selling $LINK for profit!Between Mar 24, 2023 and Mar 25, 2024, the whale withdrew 1.75M $LINK($12.3M) from #Kraken at an average price of $7.03 and held for over a year.Since May 27, he has deposited 403K $LINK($5.87M) to #Binance and still… pic.twitter.com/m3ReQ95bRa— Lookonchain (@lookonchain) June 5, 2025Data shows that the whale still holds 1.35 million LINK, now valued at approximately $18.6 million. Despite the recent correction in LINK price, the whale has already secured a $12 million profit. At the peak, profit from this holding surpassed $39 million, indicating a strategic exit timed with market cycles.LINK is now priced at $13.78, based on CoinGecko data, with a daily trading volume of over $261 million. The token has dropped 4.06% in the last 24 hours and 13.08% over the past week. Weekly prices ranged between $13.53 and $15.87, showing a gradual correction.This selling trend aligns with a 3.4% daily price decline after the whale’s deposits to Binance. Such movements often precede short-term volatility, especially when large holders liquidate. LINK Trendline Support Signals Market ConfidenceCrypto Claws reported that LINK is still respecting a key trendline that has held since June 2023. The token recently bounced off that level, signaling continued strength from buyers. This behavior suggests traders remain committed to defending important price zones.If this trend continues, bullish targets around $31 remain plausible, according to technical charts. Momentum near these support areas could shape LINK’s near-term outlook, especially if market sentiment improves. $LINK continues to respect its year-long uptrend, delivering a clean bounce off the same trendline that’s held strong since June 2023. Buyers are stepping up, fiercely defending this critical level, proving the trend’s resilience even in volatile conditions.Currently, $LINK is… pic.twitter.com/rUOUrw57QL— Crypto Claws (@cryptoclaws_) June 5, 2025Online discussions show a split in sentiment. Some users highlight whale selling as a sign of caution, while others point to growing social dominance. Historically, rising social activity has preceded rallies, although Chainlink’s limited node participation still raises questions about decentralization.Critics suggest this structural limitation could affect long-term confidence. Still, LINK’s continued price defense and whale exits point to a shifting market phase. The post Whale Secures $12M Profit as Chainlink (LINK) Price Slides Below Weekly Highs appeared first on Blockonomi.